[Resolved]  State Bank Of Mysore — stay away from this bank

Address:

Mysore, Karnataka

Respected Sir/Madam,

We have took gold loan on November 2013, that time SBM manager have mentioned that if we produce RTC of agriculture land, we'll get 7.5% of interest, that they informed to pay 925/- interest every month for the amount 1, 56, 000/-, As they have mentioned we have paid every month 925/-. On 18/6/2014(today), we went to bank to clear the gold loan, now they have mentioned that from February the rules has been change, so now the interest is 11%, and they have put the interest has 11% from February and took 1, 900/- extra amount while clearing the amount. And they haven't give any proof slip for the payment, they took the signature from my dad for their reference.

Now my question is
1) How come this rules applicable to our loan, because he have took the loan on November month, but not in February. This rules is applicable to, who they take the loan from their onwards... How they can Implement on us?

2) If the rule is really applicable to us, then why don't they intimate to us before? Okay other wise they would intimate when we are going to pay the interest every month, then why don't they mentioned?

Is this is the Bank rule teach to staffs, that how to cheat a customer or common people? If a common man do this kind of job, government will imprisoned him... Now bank staffs cheating, then what we have to do?

My parents are innocents, without questioning the manager they came by paying the money.. But I'm educated I won't accept this kind of things.

Kindly update me regarding this.